PEBB Enterprises has completed a $35 million refinancing secured by two of the firm’s office properties in Boca Raton. Citibank, N.A. provided the new loan and also served as the original lender on the assets, continuing its relationship with the borrower. The transaction closed on March 12, according to details released by the parties involved.
The refinancing covers Boca Corporate Plaza, an 89,336-square-foot Class A office building at 7900 Glades Road, and the property at 5900 Broken Sound Parkway, a 77,340-square-foot Class A office building within the Park at Broken Sound business park. Both properties are described as institutional-quality suburban office assets serving the Boca Raton business community.
Boca Corporate Plaza is a six-story office building that features water and golf course views, along with a recently upgraded lobby and common areas. The property offers convenient access to Glades Road and Florida’s Turnpike, positioning it to serve tenants seeking visibility and connectivity within the local office corridor. The building’s Class A designation reflects its competitive position within the Boca Raton office market.
The office building at 5900 Broken Sound Parkway totals three stories and is located within the 700-acre Park at Broken Sound, a mixed-use business park regarded as a premier corporate address in the area. The property benefits from proximity to Yamato Road and Interstate 95, providing regional accessibility for tenants and visitors. The building is fully occupied by Infinity Sales Group, which serves as the sole tenant in the property.
The Park at Broken Sound setting offers a business park environment that combines office uses with other property types, reinforcing the long-term positioning of the 5900 Broken Sound Parkway asset as part of a broader mixed-use enclave. Its full building occupancy by a single tenant underscores the stability of the income stream associated with that portion of the collateral.
On the borrower side, law firm Nelson Mullins represented PEBB Enterprises in the refinancing. Attorneys Christopher Staller and Donny Schreiber of Nelson Mullins advised PEBB through the transaction. Specific loan terms beyond principal amount, including rate, duration and amortization structure, were not disclosed. The announcement did not provide additional information on the use of proceeds or whether the refinancing resulted in any change to leverage levels on the properties.
The closing of this refinancing highlights continued lender activity in Boca Raton’s office sector, particularly for well-positioned Class A assets with established tenancy and institutional sponsorship. With Citibank, N.A. maintaining its role as lender on the two buildings, the transaction reflects ongoing bank participation in the secured lending market for stabilized suburban office properties.
